"They must have sent the news out over the Western Union."
Western Union telegram sent to Jackson, Mississippi’s capital, in 1930
Creative Commons Attribution Share AlikeWestern Union telegram sent to Jackson, Mississippi’s capital, in 1930 - Credit: Allstarecho

The Western Union Telegraph Company, which formed through a merger in 1856, was phenomenally successful and dominated the telegraph industry in the 19th century. Having opened the first telegraph system to stretch from the Atlantic to the Pacific coast, the company then pioneered a new innovation in 1866, being the stock ticker used to convey information about stock prices. Though by the 20th century Western Union’s lines stretched into every state, the stock tickers were predominantly located in the offices of New York bankers and brokers, hence Jason’s cynicism.